Thryv Holdings, Inc. · NASDAQ:THRY
Thryv — Q4 2024 Earnings Presentation
33 slides from Thryv's earnings presentation, Feb 27, 2025
Slide 1: Investor Presentation 4th Quarter 2024
thryv Investor . —| 4 4.7 Presentation © 47TH QUARTER 2024
Slide 2: Safe Harbor
Safe Harbor thryv This Presentation may include certain forward-looking statements, that reflect our current views with respect to future events and financial performance. Such statements are provided under the “safe harbor” protection of the Private Securities Litigation Reform Act of 1995 and incl
Slide 3: Key Investment Highlights
thryv Key Investment Highlights Best-in-class SaaS Platform Powerful All-in-one Software Platform tailored to the growing needs of the SMB. Massive Market Opportunity Established and resilient service-based SMBs with 2-99 employees. Global SAM ~10M Businesses ($40B Annual Spend). Mega-trend Thryv to
Slide 4: Global SAM of $40 billion
thryv - $40 billion Giant Global SAM’ Addressable Market ~5 million SLES: $20 billion US SAM’ 1. SAM defined as Serviceable Addressable Market Source: Projections based on average ARPU spend for businesses with 2-99 employees in service-driven industries in the U'S., using data from the U.S. Census
Slide 5: Thryv's Target Market by Annual Spend
thryv Annual Spend Thryv's Target Market >$4k CO ne ee ee <$2k Square Forward-looking targets reflect our current outlook and are subject to change as future events and opportunities arise, 5 202!
Slide 6: Upcoming Inflection Points
. . . thryv Upcoming Inflection Points INFLECTION POINT ra, SaaS Combined Overall Revenue Top-line & >50% Bottom-line Growth Inflection point evidences SaaS Revenue and Adjusted EBITDA eclipsing Marketing Services. Forward-looking targets reflect our current outlook and are subject to change as futu
Slide 7: Unlevered FCF and SaaS ARR Targets
thryv Print Unlevered FCF” ~$1 Billion in (2025-2030) SaaS ARR” | $250-$300 By the End of — Million the Decade | 1. Estimates include global tax assumptions but excludes cash interest payments. 2. ARR is defined as Annual Recurring Revenue 3, Forward-looking targets reflect our current outlook and a
Slide 8: Platform Evolution
PLATFORM EVOLUTION We help clients grow... Centralize all Run their communications. Business. Stop communication chaos. Streamline their operations. Never miss a message or Automate manual processes potential customer again. for efficiency and let Thryv work while they sleep. thryv Grow their Busine
Slide 9: Product Innovation Evolving & Expanding
thryv Product Innovation Evolving & Expanding thryvy thryv— thryv keap thryv —sthryv Business Marketing Command : Reporting Workforce Center. Center. Center Automations Center. Center. 2021 2022 2023 2024 2025
Slide 10: Reporting Center
10 REPORTING CENTER Customized Reporting Access Your Data on the Go: Designed with a small business owner in mind. With Thryv Reporting Center gain the insights you need to grow your business with confidence. New Report Name Marketing Center ® acrive Category? thre Joey's business report Appointment
Slide 11: Thryv Workforce Center - Coming Soon
* *Thryv Workforce Center - Coming Soon. 11
Slide 12: Leveraging AI to Power Client Solutions
12 thryv Leveraging Al to Power Client Solutions CaptionAl for Social Al Review Response Done-for-you social media captions perfectly Respond to customer reviews in less formatted for each platform within seconds. time and with far less effort. Social ®@ captional ©2025 Thryy, Inc. All Rigt
Slide 13: Keap's Partner Channel Amplifies Direct Sales
13 Keap’s Partner Channel! amplifies Thryv's Direct sales motion. > We can cross-sell = _ into both bases. PARTNER thryv ©2025 Thryy, Inc. All Rights Reserved,
Slide 14: Accolades & Awards
14 Named on Newsweek's list of Top 100 Global Most Loved Workplaces for 2024 Martech Breakthrough Award 2023 Accolades & Awards Thryv’s G2 Leader Awards for Small Business g S 3 S 3S Lc} until "ues Scania esas ‘Sen Mpc) etttaan) | nae = ay = = = — = = = Thryv’s G2 Leader Awards Lc) bc) ic) Momentum
Slide 15: Financial Review Q4 2024
Financial Review Q4 2024 thryv
Slide 16: 4th Quarter and FY 2024 Highlights
4th Quarter and FY 2024 Highlights 4th Quarter Full Year $ in thousands 2024 2023 YoY% 2024 2023 YoY% Total SaaS Revenue $104,305 $73,970 41.0% $343,476 $263,717 30.2% Adjusted EBITDA1 17,276 6,503 41,190 12,025 Adjusted EBITDA Margin2 16.6% 8.8% 12.0% 4.6% Total Marketing Services Revenue $82,291 $
Slide 17: Q4 SaaS Highlights
Revenue Subscribers FINANCIAL REVIEW Q4 SaaS Highlights +41% +73% YoY YoY ARPU Adjusted Gross Margin $324 76% +620 bps YoY Seasoned Net Revenue ThryvPay TPV Retention (NRR) +98% $79M +200 bps YoY +33% YoY 17 Results are inclusive of the Keap acquisition made on October 31, 2024, with the exception o
Slide 18: SaaS Highlights
FINANCIAL REVIEW SaaS Highlights Revenue Adjusted EBITDA Adjusted Gross Margin 75.9% $17.3 $104.3 $74.0 69.7% $6.5 Q4-23 Q4-24 Q4-23 Q4-24 Q4-23 Q4-24 ($ in millions) 18 Results are inclusive of the Keap acquisition made on October 31, 2024.
Slide 19: Customer demand for paid products
(1) (1) Denotes customer demand for paid products. Excludes 15,000 clients from the Keap acquisition made on October 31, 2024. 19
Slide 20: Total SaaS and Local Sales Generated
20 Total SaaS and Local Sales Generated inclusive of results from the Keap acquisition. Q4 SaaS ARPU: Total $324, Thryv $313, Keap $424 (Nov-Dec).
Slide 21: Multi-center Platform Improving Profitability
FINANCIAL REVIEW Multi-center Platform Improving Profitability Released Q3 2023* Released on Restricted Sale Q4 2022 Released For General Availability Released Q2 2019 75.9% 72.2% 69.7% 68.4% 69.7% 65.1% 66.6% $104.3 63.4% 64.5% 63.5% 62.8% 64.2% $87.1 $77.8 $79.2 $74.0 $74.3 $67.4 $59.9 $62.5 $62.9
Slide 22: Results inclusive of Keap acquisition
22 Results are inclusive of the Keap acquisition made on October 31, 2024.
Slide 23: Total Company Billings
FINANCIAL REVIEW Total Company Billings Q4-24 Q4-23 BILLINGS (YoY%) SaaS Billings (1)(2) $105.0 $73.6 (millions) YoY % 43% 22% 43% 32% 21% 20% 24% 25% 24% 20% 22% 22% 24% 13% (14)% (12)% (13)% (9)% (12)% (14)% (12)% (12)% (12)% (14)% (13)% (16)% Q4-24 Q4-23 (19)% (17)% (20)% (17)% (19)% (22)% (19)%
Slide 24: Q1 and FY 2025 Outlook
Q1 and FY 2025 Outlook Company Issues Strong SaaS Guidance for FY 2025 (in millions, USD) Q1 2025 FY 2025 MANAGEMENT COMMENTARY TOTAL SAAS • Company expects FY-25 increase of REVENUE $107.5 to $110.0 $464.5 to $474.0 35% to 38%. Keap is expected to contribute $75 to $78 million in FY-25 • Q1-25 SaaS
Slide 25: Appendix
thryv Appendix
Slide 26: Non-GAAP Financial Reconciliation
APPENDIX Non-GAAP Financial Reconciliation (in thousands) Q1-23 Q2-23 Q3-23 Q4-23 FY23 Q1-24 Q2-24 Q3-24 Q4-24 FY24 Net Income (Loss) $ 9,314 $ 15,978 $ (27,046) $ (257,541) $ (259,295) $ 8,424 $ 5,548 $ (96,071) $ 7,883 $ (74,216) Interest expense 16,488 16,292 15,131 13,817 61,728 13,359 12,175 11
Slide 27: SaaS Segment Non-GAAP Reconciliation
APPENDIX SaaS Segment Non-GAAP Reconciliation Quarter Ended (in thousands) Q1-24 Q2-24 Q3-24 Q4-24 Segment Revenue $ 74,322 $ 77,794 $ 87,055 $ 104,305 Less: Segment cost of services 23,463 23,552 24,168 25,136 Segment sales and marketing 35,031 32,021 36,676 42,661 Segment general and administrativ
Slide 28: Non-GAAP Financial Reconciliation
APPENDIX Non-GAAP Financial Reconciliation Reconciliation of Adjusted Gross Profit to Gross Profit Three Months Ended December 31, 2024 (in thousands) Marketing Services SaaS Consolidated Reconciliation of Adjusted Gross Profit Gross profit $ 46,796 $ 76,231 $ 123,027 Plus: Depreciation and amortiza
Slide 29: Non-GAAP Financial Reconciliation
APPENDIX Non-GAAP Financial Reconciliation Reconciliation of Adjusted Gross Profit to Gross Profit Year Ended December 31, 2024 (in thousands) Marketing Services SaaS Consolidated Reconciliation of Adjusted Gross Profit Gross profit $ 299,015 $ 238,222 $ 537,237 Plus: Depreciation and amortization e
Slide 30: Supplemental Financial Information
APPENDIX Supplemental Financial Information Three Months Ended December 31, 2024 (in thousands) Marketing Services SaaS Total Revenue $ 82,291 $ 104,305 $ 186,596 Adjusted EBITDA 12,104 17,276 29,380 Adjusted EBITDA Margin 14.7 % 16.6 % 15.7 % Three Months Ended December 31, 2023 (in thousands) Mark
Slide 31: Supplemental Financial Information
APPENDIX Supplemental Financial Information Year Ended December 31, 2024 (in thousands) Marketing Services SaaS Total Revenue $ 480,680 $ 343,476 $ 824,156 Adjusted EBITDA 121,241 41,190 162,431 Adjusted EBITDA Margin 25.2 % 12.0 % 19.7 % Year Ended December 31, 2023 (in thousands) Marketing Service
Slide 32: Domestic Print Publishing Schedule
32 Domestic Print Publishing Schedule PUBLICATIONS 400 o “e 200 e eo QU-23 Q2-23 Q3-23 Q4-23 Q1-24 Q2-24 Q3-24 Q424 QI-25E Q2-25E Q3-25E Q4-25E Q1-26E Q2-26E Q3-26E Q4-26E Per ASC 606 accounting policy, print revenue is recognized upfront at the time of shipment. The company began extending its publ
Slide 33: Definitions
APPENDIX Definitions Definitions of key terms used in this presentation are as follows: • Total SaaS revenue consists of SaaS revenue recognized by our domestic and foreign operations. • Total Marketing Services revenue consists of SaaS revenue recognized by our domestic and foreign operations. 1 •